NZDCHF Up 2 Pips Over Past Hour; Entered Today Down For the 2nd Straight Day

Hourly Update

(Last Updated June 10, 2021 7:22 GMT)

Currently, NZDCHF’s rate is up 2 pips (0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

NZDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCHF is down 25 pips (0.39%) since the day prior (opening today near 0.6425358814), marking the 2nd straight day it has gone down. Relative to other instruments in the Forex asset class, NZDCHF ranked 38th the day prior in terms of percentage price change. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6489, 0.6535, 0.654 and 0.6372 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 53.2 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 20 out of the past 30 days.